QR codeQR code

Rakbank announced the completion of the inaugural Tier 2 release

news agency wam , 5 Sep 2024 - 9:47

Rockbank's first issue of securities with the publication of an announcement that it has completed its Tier 2 by raising $250 million.


According to Amac News: In the announcement of this bank, it is stated that bonds with a maturity of 10.25 years and a non-contact period of 5.25 years (10.25NC5.25) were issued with a coupon rate of 5.875%.
The issuance was met with strong investor demand, with overbooking of more than $1 billion, four times oversubscribed, the bank said.
This significant demand allowed Rakbank to cut its pricing by 42.5 basis points, reflecting investors' confidence in the bank's financial stability and growth prospects.
 


Story Code: 1455

News Link :
https://www.amacnews.com/en/news/1455/rakbank-announced-the-completion-of-inaugural-tier-2-release

AMAC
  https://www.amacnews.com